Powerlase Secures Funding
CRAWLEY, England, April 2, 2009 -- Powerlase Ltd., a manufacturer of powerful nanosecond Q-switched, diode-pumped solid-state (DPSS) lasers, announced it has received a "significant" investment from venture capitalists.
Powerlase received the undisclosed amount through a funding deal reached with five investment firms: MTI Partners, Deutsche Venture Capital, DJF Esprit LLP, Alice Ventures and FNI Venture Capital.
The company said it will use the funds to further develop its 1064-nm and 532-nm laser technology, currently used in industrial materials processing applications in microelectronics, semiconductor and display manufacture, to include new markets such as photovoltaics, AMOLED (active-matrix organic LED) displays, micromachining and laser patterning.
Powerlase said its technology is designed to improve manufacturing efficiencies and its focus on high-growth sectors led to record orders at the end of 2008. This latest investment will provide the company with an enhanced ability to meet the growing demand for its laser systems in 2009 and beyond, Powerlase said.
“We’ve always designed our lasers and applications with the customer in mind, ensuring we can meet their specific manufacturing requirements, streamline processes and reduce costs,” said Powerlase CEO Les Lockwood. “The changing economy has led customers to place a greater focus on efficiencies and clean technologies. This investment will ensure we can meet the increasing demand for high performance, high productivity laser technology.”
“The company has shown a fantastic ability to identify new applications for its laser technology and we’re confident that its global leadership from a customer-led product development perspective will be increased with this investment,” said David Ward, managing partner and vice president, MTI Partners Inc.
For more information, visit: www.powerlase.com